Top Free Compensation Management Software

Check out our list of free Compensation Management Software. Products featured on this list are the ones that offer a free trial version. As with most free versions, there are limitations, typically time or features.

If you'd like to see more products and to evaluate additional feature options, compare all Compensation Management Software to ensure you get the right product.

(183)4.2 out of 5

Everything you need to win with talent: Cloud-based solutions, best-practice resources, proven expert services and a vibrant customer community. Saba Software, offers an organically built cloud-based talent management suite — Saba TalentSpace™ — that reinforces and drives higher employee performance across all talent programs — whether that’s performance management, learning and development, succession and leadership, compensation or recruiting. The suite of applications are designed from th

JoAnne S.
JS
Halogen's customer service is second to none. It is nice to call and talk to a friendly person who is committed to solving a problem. I like the... Read review
AC
Halogen’s customer support team is available 24/7 so I can always get someone no matter what time of day I’m working. They’ve also added a live... Read review
(13)4.8 out of 5

Heartpace is modern Continuous Performance Management & Employee Engagement software. Our clients choose Heartpace also as OKRs & Strategic Alignment tool. Develop connections in vision, strategy and objectives for all employees on one platform. Keep your employees Focused, Motivated and Aligned with Great 1:1 Talks and outgoing Feedback. Increase commitment, performance and profitability. Results are immediate and push the entire company in a positive direction

Anastasia Z.
AZ
In our company, I use evaluation regularly (one time per quartal), but before we adopted Heartpace this prosses was annoying for everyone and took... Read review
KK
Heartpace is a management Software where an organization uses to keep and manage their employees efficiently and effectively so as to achieve the... Read review
(6)4.8 out of 5

SimplyMerit® is an HR Compensation Management solution that engages leaders and empowers managers to optimize their merit budgets and annual bonus pools. We can have you LIVE IN FIVE days or less with a tried-and-true, mobile-ready application that your managers will love! Think of it… no more errors, no more headaches of distributing and managing spreadsheets, no more security worries! SimplyMerit is cloud-based, so we manage the entire environment for you. It’s real-time, so your managers an

AM
Easy to use. Great customer service. It has everything our company needed to perform the annual merit and bonus process. Read review
Mary G.
MG
Easy implementation, Great support & training. If you have ever managed the merit process and had to generate merit letters and send out lots of... Read review
(2)4.8 out of 5

Compport enables companies to spend their millions of $s compensation budgets on right resources in the right proportion, hence bringing substantial cost efficiencies, productivity, & engagement. Compport can achieve 90% efficiency, 10% impact on employee turnover & an estimated 40 times ROI for our clients. Using Compport compensation software, organizations can manage salary review, bonus, sales incentive and long term incentive plans wisely, efficiently, & they can track people

IH
I used the 'Employee Survey' module of Compport, which was so easy and efficient to kick off and execute the whole survey process. I had access to... Read review
AP
Compport is fully configurable and they did all the customizations that we needed. The speed of launch/ integration was amazing and we saved a lot... Read review
(19)4.3 out of 5
Optimized for quick response

Sage People empowers leading midsize organizations to build great workforce experiences that truly engage and inspire their people. Dramatically reducing processes through smart automation, using actionable insights to drive decision-making, and enabling organizations to easily adapt to drive workforce agility and business resilience, Sage People is the HR and People system of choice for organizations whose business success relies on their people's success. ­­

AE
Great product. intuitive and flexible, cost effective, great support, rapid to implement. Integrates well with other systems, very robust platform... Read review
UI
Easy to use and helpful but the price is a little high Read review

Top 5 Free Compensation Management Software in 2021

  • Saba TalentSpace
  • Heartpace
  • SimplyMerit
  • Compport
  • Sage People

Learn More About Compensation Management Software

What is Compensation Management Software?

Compensation management software helps HR personnel design and manage compensation plans, from budget creation to award allocations. These solutions increase communication between HR, individual employees, and the entire workforce at large. They also provide managers with the insight necessary to make award decisions based on employee performance and development within the company. Furthermore, these solutions provide human resources with increased visibility into company-wide compensation decisions and employee salary benchmarks. Meanwhile, compensation management software provides security for sensitive wage information and prepares company financial information for audits. These solutions often integrate with performance management, core HR, and payroll software.

Develop Strategies — Compensation management software delivers real-time insights about the current state of employee compensation within the entire marketplace. This solution structures the process of compensation, allowing a company’s rules to be applied to the software’s database. This solution structures compensation by providing features like payment dates, administration of salaries, consideration of merit, scaling of pay, raises, and bonuses. Compensation management software takes market standards into consideration and aligns the scale of pay and commission to those standards. Additionally, because compensation management software automates the creation of reports and budgets, users are able to apply all that data as they update and edit their compensation strategies. Furthermore, some products provide data analytics, which provide further insight into both the company’s employee population as well as market comparisons.

Reduce Time — One can liken compensation management software to a self-service people-information management solution. Prior to the development of this tool, human resource management had to record employee hours, travel time, bonuses, cost of living, market standards, etc., in spreadsheets, much like expense reporting. Not only did this paper-driven, outdated method take up precious time and energy, but preparing for audits was a difficult, time-consuming process.

Additionally, compensation management software created a singular database system for users to manage and review all employee salary information. The software automatically calculates rates and raises based on cost of living and competitive markets, which facilitates transparency within an organization. These new processes save HR and payroll managers energy and resources by shortening the processing time of a previously exhaustive task. The software also bundles up benchmarking and forecasting capabilities with its other automated self-service management features.

Why Use Compensation Management Software?

Compensation management software helps companies create, define, and manage their compensation strategy. Companies use compensation management software to view and adjust compensation policies, plan employee bonuses, and recommend wage adjustments. Compensation management systems enable human resource management to develop streamlined compensation strategies for their teams, optimizing salary budgets.

Compensation management software facilitates an easier, more manageable system for strategizing competitive employee wages and compensation. The software helps HR and payroll departments move from an overwhelming, paper-driven management method to a streamlined, electronic one. Users have said another main business problem that the software solves is the sheer amount of time needed with the manual, traditional methods of managing compensation.

Who Uses Compensation Management Software?

Compensation management software is great for businesses and HR departments of all sizes looking to streamline, manage, or expand compensation management initiatives. All companies, large or small, rely on compensation management to manage their organization’s pay strategy. It’s vital that companies of every size manage their compensation accurately and fairly. Especially as companies grow in size, hire new talent, and promote internally, it may become more difficult to manage their employee compensation. This tool provides compensation solutions for wages to be adjusted, increase with employee growth, and remain equitable across the company and sector.

Compensation management software streamlines the management of various types of compensation such as base pay, commissions, overtime pay, bonuses, profit sharing, merit pay, and stock options, to name a few.


Compensation Management Software Features

Reward Structuring — Define compensation packages and allowance plans within the system. Specify the various components of compensation, including base salary, bonuses, and equity. Structure compensation pools and hierarchies for continual planning.

Event Management — Coordinate new hire, transfer, promotion, and termination events within the system using rules to automatically facilitate the associated compensation adjustments.

Workflow Automation — Streamline the flow of work processes by establishing triggers and alerts that notify and route information to the appropriate people when their action is required within the compensation process.

Compensation History — Access employee compensation history and talent records when evaluating compensation adjustments to inform decision making.

Automated Compliance — Maintain compliance with corporate policies, state mandates, and federal regulations regarding compensation with built-in compliance features, including automated identification and flagging of unapproved behaviors.

Performance Management Integration — Integrate employee performance data from a third-party performance management solution to supplement compensation history and establish pay-for-performance compensation structures.

Embedded Analytics — View budgetary allocations across the organization, compensation information related to individual employees or departments, and underlying compensation trends in analytics dashboards embedded in the system.

Reporting Capabilities — Create standard and ad-hoc reports of compensation data within the system. These reports can include trends and other graphical representations of data displayed by analytics dashboards.

Compensation Data Management — Easily import or export data and access workers’ compensation data quickly within the system. Create compensation hierarchies so that managers can access relevant team information.

Internationalization — Extend compensation configurations around the globe using flexible location profiles, multiple language options, and automatic currency conversion tools within the system.